Bamfords' ex-only platform IC Direct shuts to new business

clock

An execution-only investment platform launched a year ago by Surrey-based IFA Informed Choice has closed to new business after its pricing terms became uncompetitive.

The decision was taken in March after the company reviewed its charges in the wake of moves by a number of leading platforms to overhaul their pricing structures. As a firm "without the scale to negotiate improved terms with our partners, we have decided to close IC Direct to new business", Informed Choice managing director, and founder of IC Direct, Martin Bamford wrote in an update on the firm's website. Existing customers can continue to access the service. Powered by FundsNetwork, IC Direct launched in April 2013 targeted at retail investors with between £20,000 and £40,000 in ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

Aberdeen's Kenny: 'We need to get our flows into positive territory'

Aberdeen's Kenny: 'We need to get our flows into positive territory'

CDO on service, technology and ‘moving the dial’

Isabel Baxter
clock 13 March 2025 • 4 min read
Platform innovation: Terry Huddart on Abrdn's Cash Solution

Platform innovation: Terry Huddart on Abrdn's Cash Solution

'I see this as another positive market development'

Terry Huddart
clock 27 February 2025 • 5 min read
LV= expands adviser investment options with Embark partnership

LV= expands adviser investment options with Embark partnership

Builds on adviser support with smoothed managed funds and digital integration

Sahar Nazir
clock 17 February 2025 • 2 min read